Fortinet Inc’s filing revealed that its Director KEN QING XIE acquired Company’s shares for reported $1.79 million on Sep 17 ’24. In the deal valued at $76.34 per share,23,511 shares were bought.
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Then, NEUKOM WILLIAM H. bought 459 shares, generating $34,967 in total proceeds. Upon buying the shares at $76.18, the Director now owns 148,761 shares.
Before that, Jensen Keith sold 11,985 shares. Fortinet Inc shares valued at $905,465 were divested by the Chief Financial Officer at a price of $75.55 per share. As a result of the transaction, Jensen Keith now holds 4,676 shares, worth roughly $0.35 million.
DZ Bank upgraded its Fortinet Inc [FTNT] rating to a Hold from a a Sell in a research note published recently. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in early August from “a Reduce” to “a Hold”. Guggenheim also remained covering FTNT and has decreased its forecast on July 29, 2024 with a “Neutral” recommendation from previously “Buy” rating. TD Cowen revised its rating on July 18, 2024. It rated FTNT as “a Buy” which previously was an “a Hold”.
Price Performance Review of FTNT
On Tuesday, Fortinet Inc [NASDAQ:FTNT] saw its stock fall -0.96% to $75.61. Over the last five days, the stock has lost -0.60%. Fortinet Inc shares have risen nearly 29.18% since the year began. Nevertheless, the stocks have risen 23.91% over the past one year. While a 52-week high of $78.08 was reached on 09/03/24, a 52-week low of $44.12 was recorded on 08/05/24. SMA at 50 days reached $67.57, while 200 days put it at $64.15.
Levels Of Support And Resistance For FTNT Stock
The 24-hour chart illustrates a support level at 75.17, which if violated will result in even more drops to 74.73. On the upside, there is a resistance level at 76.26. A further resistance level may holdings at 76.91. The Relative Strength Index (RSI) on the 14-day chart is 60.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.57%. Stochastics %K at 49.34% indicates the stock is a holding.
How much short interest is there in Fortinet Inc?
A steep rise in short interest was recorded in Fortinet Inc stocks on 2024-08-30, dropping by -3.39 million shares to a total of 13.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 17.11 million shares. There was a decline of -24.74%, which implies that there is a negative sentiment for the stock.
